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Career Opportunities at Merchants Capital

 

Merchants Capital, formerly PR Mortgage & Investments, is headquartered in Carmel, Indiana, and is a wholly owned subsidiary of Merchants Bank. Since 1990, we have provided the best origination and service of loan products with exceptional customer service, accuracy, creativity, speed, and conformance to regulations. Merchants Capital is a premier provider and servicer of multifamily, senior and student housing in the Midwest.

Servicing
$10
Billion in Loans

Nationally Ranked
TOP 10
FHA production

Approved
FHA
Lender

Approved
HUD
MAP Lender

Approved
Fannie Mae
Affordable Lender

Approved
Freddie Mac
OptigoSM Targeted Affordable Seller/Servicer

2019 – 2016 Best Places to Work in Indiana

Merchants Capital strives to create a work environment that rewards hard work and strong performance while encouraging a positive work-life balance. At Merchants, we believe our people make the difference in our business and our full range of top-notch employee benefits are key to building and maintaining our team.

  • Medical
  • Dental
  • Vision
  • Disability
  • Life
  • 401K

100 Best Places Logo

Current Open Positions

Commercial Loan Processor/Closer (Saint Paul or Indianapolis)

Posted: 01/26/2019
Summary: The Commercial Loan Processor/Closer must be knowledgeable of the various investor programs and loan products offered by Merchants Capital, which include traditional Bank financing, Fannie Mae DUS program, Freddie Mac Program Plus and Freddie Mac TAH, and FHA HUD/RHS.
The Commercial Loan Processor/Closer will be responsible for the compliance of the respective program guide requirements. The position’s primary focus will be on bank loans originated by Merchants Capital, but the responsibilities could also include working with Fannie Mae, Freddie Mac or HUD products.

Essential Duties and Responsibilities: 
The responsibilities of the Commercial Loan Processor/Closer include, but are not limited to, those outlined below.
  • Participate in kick-off call with both Internal team members and Borrower to gain understanding of transaction at onset of process;
  • Order, track, & maintain 3rd party reports;
  • Create signature documents, both internal & external (i.e.; forms, application, invoices, engagement letters, etc.);
  • Request, retrieve, and track due diligence documents from the client via Outlook and/or file-sharing system;
  • Expert for all applicable loan policies and procedures both internally and required by Agency Guide’s, as applicable;
  • Assist origination & underwriting in clearing stipulations required by loan committee or Agency program (as/if applicable);
  • Answer client questions that may arise during the loan process;
  • Coordinate and prepare loan application packages with Underwriting team for submission for approval;
  • Submit and track insurance review with internal and external staff to ensure compliance with Bank and/or Agency requirements;
  • Maintain accurate QC/HMDA folders;
  • Maintain ‘Pipeline” report(s);
  • Coordinate with the Bank’s legal representatives to schedule loan closings, while collecting required items needed for closing from the Borrower, Bank, or Legal Team;
  • Organize weekly closing calls with borrower and counsel, as needed;
  • Create Settlement Statements for closing and oversee the contribution of equity, loan disbursements, and third-party payments;
  • Coordinate all aspects of loan closings including but not limited to the following:
  • Provide outside counsel with timely receipt of required closing documents
  • Work closely with counsel to prepare and review all necessary loan documents;
  • Review title and survey comments prepared by counsel and follow up if required; and
  • Obtain all necessary documentation for the completion of a closing statement as well as obtain backup documentation for the processing of an initial draw for construction transactions.
  • Arrange loan funding which includes ordering of warehouse funds from appropriate warehouse lender;
  • Review and track all Lender and Investor commitments, as applicable;
  • Issue loan commitments and confirmations, as applicable;
  • Coordinate all loan delivery packages with both Underwriting team and outside counsel, as applicable;
  • Work directly with the various Agencies to securitize and provide necessary closing documentation post-closing to finalize the mortgage-backed security to the investor, as applicable;
  • Deliver permanent loan files to servicing, construction servicing and asset management departments.
  • Ability to travel to closings, as required;
  • Complete other duties as deemed necessary.
Commercial Loan Processor/Closer Required Skills:
  • Strong organizational skills with attention to detail.
  • Possess the initiative to work in an independent and reliable manner, and ability to work closely with other internal departments to process a loan in a timely manner.
  • Strong customer service skills in person, via electronic communication and phone.
  • Proficient in Microsoft Word, Excel, Outlook and database management
  • Requires critical thinking skills and multitasking.
  • Teamwork and collaboration focused
  • Demonstrate a positive attitude focused on responsibility and integrity.
  • Committed to conducting business in a manner that reflects favorably at all times on the good name, goodwill and reputation of Merchants Capital.
Commercial Loan Processor/Closer Minimum Experience and Education Required:
Two-year college degree with two-years’ experience or 5 years real estate lending specific experience. Educational or work experience in relation to loan processing in finance, real estate or associated fields. Strong preference to previous Bank, FHA HUD, and Agency experience.

Compensation:
Salary, benefits and bonus potential. Further education in a related field will be considered for reimbursement.

Supervisory Responsibilities:
This position has no direct supervisory responsibilities.

Job Type: Full-time  

Qualified applicants may submit their resume online.  Apply Online

GSE Underwriter

Posted: 03/06/2019
Summary: GSE Underwriter position is responsible for ensuring the timely and accurate underwriting of multifamily mortgage loan transactions in accordance with Agency and Bank guidelines. Responsibilities include but are not limited to reviewing customer data, making sound credit decisions and ensuring they are documented to secondary market guidelines where applicable, as well as assisting loan officers and processors with gathering of loan documents.

Expected Outcomes: Under moderate supervision, the GSE Underwriter will work closely with the Review Underwriter underwriting new loan originations for Fannie Mae/Freddie Mac. The GSE Underwriter will perform evaluation of proposed Agency loans for credit risk and obtain deal approvals from Merchants credit committee and respective Agency.

Essential Duties and Responsibilities:
  • Underwrite multifamily Agency loans originated by Merchants Capital.
  • Manage underwriting process for new loans from origination to closing.
  • Adhere to Agency loan requirements, reviewing updates on an ongoing basis, to stay current on changes made by respective Agencies and/or Merchants.
  • Perform site inspections of underwritten assets.
  • Manage third party vendors and evaluate third party reports including appraisal reports, engineering reports, environmental reports, zoning reports, flood certifications, preliminary title, etc.
  • Coordinate and manage communication with internal Merchants staff including the Review Underwriter, originations and closings team; Agency; third party vendors, including but not limited to, the appraiser, engineer and environmental consultant; Merchants legal counsel; insurance consultant; borrower and any others that are pertinent to the success of the transaction.
  • Evaluate Borrower financial statements, bank statements, credit reports, legal searches, real estate owned (REO) schedules, resumes, etc., and determine any potential credit risks.
  • Together with other members of the team, generate a Due Diligence checklist along with monitoring receipt of and processing due diligence as it is received. Review files for completeness and identify critical missing information.
  • Analyze historical operating statements, rent rolls, market characteristics, etc., and complete the underwriting loan submission template.
  • Alert appropriate persons to potential deal issues as soon as they arise.
  • Prepare the loan package for evaluation and approval by Merchants credit committee and Agency Lenders.
  • Perform other related duties as assigned.


Expected Experience, Skills and Education:
  • Bachelor’s degree in Finance, Economics, Real Estate or another related field required.
  • Minimum three-years of multifamily loan underwriting experience required; knowledge of Fannie Mae and Freddie Mac loan products is preferred.
  • Knowledge and understanding of Agency lending guidelines, including applying applicable credit parameters in order to minimize credit risk required.
  • Knowledge and understanding of Agency pricing standards in order to determine the all-in interest rate preferred.
  • Knowledge and understanding of various organizational structures such as LLCs, LPs, Corporations, Trusts, etc. preferred.
  • Exceptional analytical, problem solving, and organizational skills required.
  • Requires critical thinking skills and multitasking
  • The ability to successfully work as a team in a fast-paced environment and demonstrate strong listening, negotiating, and leadership skills required.
  • Effective written and oral communication skills required.
  • An expertise in Microsoft Word, Excel, PowerPoint and Adobe required.


All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee’s primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.

Additionally, all employees are expected to demonstrate the following Core Competencies:

Professionalism – acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.

Communication – understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.

Work Quality – demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.

Analytical Ability – navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.

Leadership – displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.

Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job’s relevant industries.

Qualified applicants may submit their resume online.  Apply Online

Transaction Manager

Posted: 04/09/2019
The Transaction Manager position is an intermediate, client facing position designed to work closely within the Origination group in vetting opportunities by completing preliminary underwriting and determining the best use of company lending platforms. The position will be responsible for efficiently moving loan transactions from preliminary underwriting through closing as well as streamlining the client interaction process by minimizing client touch points and providing excellent customer service through accurate and timely communication.

A successful Transaction Manager will perform accurate initial underwriting and loan sizing analyses that properly capitalize on a project’s financial strengths and mitigate weaknesses. They will effectively engage in communication with clients that results in positive working relationships and allows for efficient process management through loan closing. Success will be marked by timely work and deadline adherence. Transaction Managers who can work independently as well as part of the Origination and Underwriting teams and are able to learn from each experience will recognize excellent growth paths toward other positions in the organization.

Essential Duties and Responsibilities:
  • Perform preliminary underwriting to accurately size lending transactions by working with HUD, GSE, and MBI credit teams.
  • Analyze financial statements and reports related to the transaction, such as historical & pro forma property operating statements, rent rolls, sources and uses, real estate owned schedules, appraisals, and project capital needs assessments.
  • Streamline communication for accurate and timely client interaction.
  • Oversee loan from Application through Closing.
  • Support and Assist Originators throughout transaction process.
  • Lead conference calls with clients, legal counsel, closing team, and underwriting teams.
  • Prepare term sheets for review and approval by MBI along with assisting in preparation of HUD & GSE Engagement Letters.
  • Composition and analysis of HUD Concept Packages, GSE Soft Quotes, & GSE Pre-Screens.
  • Review 3rd party reports and communicate any issues.
  • Lead due diligence process with clients and internal company processors.
  • Continuing education on MBI, HUD, RD, FHLMC & FNMA program developments, loan policies, and guidelines.
  • Attend training on applicable subjects when available and appropriate for position.
Expected Experience, Skills and Education:
  • Requires a bachelor’s degree from an accredited institution, preferably with a focus in finance or commercial real estate.
  • Requires proficiency with Microsoft Office, with emphasis on Excel and Word.
  • Must demonstrate excellent communication, analytical, interpersonal, and organizational skills.
  • Must be self-sufficient with project/timeline management skills; accuracy and attention to details; and the ability to adapt in an entrepreneurial business environment.
  • Must be able to work well under pressure and have the ability to prioritize work to meet deadlines in a fast-paced environment.
  • Requires occasional travel for property inspections, loan closings, training opportunities and transaction meetings. 10% travel overnight – typically 1-2 nights.
  • Knowledge of multifamily real estate and affordable housing development.


All employees are expected to contribute to the overall success of the organization by performing requested duties regardless of explicit inclusion in the job description or reasonable relation to an employee’s primary role. Additionally, all employees must understand and adhere to all federal and state laws and banking regulations and company policies and procedures applicable to assigned job responsibilities, including compliance as appropriate under the Bank Secrecy Act and Anti-Money Laundering regulations.

Additionally, all employees are expected to demonstrate the following Core Competencies:

Professionalism – acting with responsibility, integrity and accountability; demonstrating consistent trustworthiness and reliability; always remaining flexible, adaptable and willing to accept coaching; building and managing professionally healthy relationships; deliberately managing career decisions; and continually developing awareness of business-related topics.

Communication – understanding various active and passive tools and styles and their effects; and exhibiting appropriate, effective, timely use of tools and styles to connect, collaborate, facilitate teamwork and serve customers.

Work Quality – demonstrating an ongoing commitment to compliance, safety and security; executing work with efficiency, a sense of urgency and attention to detail; and displaying organized work practices and a results-oriented mindset.

Analytical Ability – navigating work-related circumstances with practical, sound reasoning; and demonstrating creativity in problem solving.

Leadership – displaying good judgment and certainty in decision making; taking initiative with job-related demands; demonstrating innovative thinking and sound planning with business practices; managing individual performance toward shared organizational goals; and thinking strategically to set and accomplish goals.

Merchants Bancorp and its affiliates and subsidiaries are committed to being equal opportunity employers. All job candidates and incumbents will be assessed based on only criteria relevant to successfully performing the job as defined in this job description and as generally accepted in the job’s relevant industries.

Job Title: Transaction Manager

Job Type: Full-time

Qualified applicants may submit their resume online.  Apply Online

Construction Loan Analyst

Posted: 04/17/2019
The Construction Loan Analyst is responsible for maintaining ongoing loan balances in compliance with regulatory guidelines. This is achieved through effectively utilizing Excel and proprietary in-house software to monitor and administer an assigned portfolio of construction loans. A successful Construction Loan Analyst will focus on delivering a top-notch client experience through professional, effective communication and accurate, efficient loan administration processes.

Essential Duties and Responsibilities:
  • Set up and administer an assigned portfolio of construction loans, escrows, budgets and draws.
  • Provide excellent customer service to clients who utilize Merchants’ construction loan services.
  • Oversee processing of change orders and escrow requests in adherence to regulatory guidelines.
  • Create, maintain and distribute monthly billings for portfolio of construction loans.
  • Process and fund final draw/conversion-to-permanent closing per regulatory guidelines.
  • Ensure ongoing loan balancing by monitoring and managing loan changes.


Knowledge, Skills, Abilities and Experience:
  • Requires solid math skills such as multiplying, dividing and basic ideas for calculating loan-related amounts.
  • Requires understanding and the ability to use Excel to maintain spreadsheets, utilize existing macros, and manage data.
  • Requires an organized, detail-oriented approach to work balanced with a personable demeanor effective at delivering high-quality client experiences.
  • Five years of professional work experience preferred with an emphasis on construction loan administration, banking/general loan administration and/or real estate development financial management.
  • Requires successfully demonstrated problem-solving skills with a self-start mentality that responds well to work pressure and urgent deadlines.
  • Requires excellent written and verbal communication skills with an ability to actively listen and respond appropriately.
  • Requires basic understanding and professional experience in using Word and Outlook for professional correspondence and recordkeeping.
  • Requires a minimum of a high school diploma or GED from an accredited institution.


The Construction Loan Analyst position is a full-time, exempt position.  Qualified applicants may submit their resume online.  Apply Online

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